Of the total funding, majority was secondary whereby giving exit to the one of existing partners.
The money will be used to expand distribution in North and East India markets, launch additional product lines, and enhance the management team. Intensive Fiscal Services Pvt Ltd.
is a North-East India based FMCG Brand engaged into Manufacturing and Selling of branded Packaged Snacks & Bakery Products under Brand name 'Mamooz', 'Non Stop' and “Kishlay”.
Started in 2002, Kishlay
has successfully diversified into Manufacturing of Branded Western Snacks like Potato Chips, Extruded Snacks, Corn based Rings, Puffs, Balls
along with Bakery Products like Cream, Marie & Butter Cookies & Rusk. Company has also recently set-up a new state of art Manufacturing facility for Ethnic Namkeen.
Foods founder Sandeep Bajaj said that “Kishlay
foods is well positioned to penetrate deeper in its home markets and expand further in new geographies and products.
“As part of Norwest’s investment focus on food tech, packaged food and food services, we have been tracking Kishlay
Snacks for a long time and have been extremely impressed with the quality of the team, the company’s rapid growth and strategic execution,” said Sumer Juneja, Director at NVP India.
The organised snacks market in India is estimated to be $8 billion and is growing at 20 percent CAGR and Kishlay
with its unique products and growing distribution network is well placed to capture this opportunity.